May 16, 2019 / 6:34 AM / 5 months ago

BUZZ-Tata Global Beverages: Rises on plans to buy group co's consumer products business

** Shares of Starbucks Corp’s Indian partner rise as much as 10.5% to 220.15 rupees; best day since June, 2014

** Group co Tata Chemicals says it will sell its consumer products business to Tata Global Beverages (TGBL)

** Tata Chemicals shares rise as much as 8.8%

** TGBL to be renamed as Tata Consumer Products Ltd post deal

** Business includes the popular Tata Salt, spice mixes and water purifiers

** Kotak Institutional Equities analysts say the deal suggests 3%-6% EPS accretion for TGBL in second and third years after the deal

** TGBL becomes Tata Group’s vehicle to execute its aggressive aspirations in the consumer goods business - Kotak

** 6.5x 30-day avg volumes traded

** Shares fall 9.2% this year as of last close (Reporting by Derek Francis in Bengaluru)

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